Section 5(1) in Bihar Private Universities Act, 2013
(1)After the receipt of the report of the committee constituted under section4, if the State Government is satisfied that it is advisable to establish the University, it may issue a letter of intent and ask the sponsoring body to-(i)establish an endowment fund in accordance with the provisions of section 11 of this Act;(ii)own a minimum of ten acres of land outside municipal area or 5 acres within municipal area, or such land as per norms of regulating body; if not already available;(iii)construct a minimum of 10,000 square meters of covered space(iv)purchase books and journals of atleast rupees 10 lacs or as per the norms of regulating bodies,whichever is higher, and give undertaking to invest within the first three years not less than rupees 50 lacs or as per the norms of regulating bodies, whichever is higher, on books, journals, computers, library networking and other facilities so as to make the library facilities adequate for contemporary teaching and research;(v)purchase equipments, computers, furniture, other movable &immovable assets and infrastructure facilities (other than buildings, referred to in clause(iii) above) worth rupees 20 lacs or as per the norms of regulating bodies, whichever is higher, and give undertaking to procure within the first five years equipments,computers,furniture,other movable and immovable assets and infrastructure facilities(other than buildings, referred to in clause(iii) above) worth not less than rupees one crore or as per the norms of regulating bodies, whichever is higher;(vi)give undertaking to appoint at least 1 Professor, 2 Readers and adequate number of Lecturers along with necessary supporting staff in each department or discipline to be started by the University or as per norms of the regulating body;(vii)give undertaking to take up co-curricular activities like seminars, debates, quiz programmes and extracurricular activities like games, sports, National Service Scheme, National Cadet Corps, Scouts and Guides etc. for the benefit of students as per the norms laid down by the regulating bodies(viii)give undertaking for establishment of provident fund and to take up welfare programmes for the employees of the University; and(ix)fulfill such other conditions and provide such other information as may be prescribed by the University Grants Commission, All India Council for Technical Education or any other statutory body established by the law of the Union or State Government.
